WorksheetsRevision 1
Total questions: 80
Worksheet time: 50mins
The sequence of a sales process is
Call, Lead generation, Demo & sale
Sale, Demo,Lead generation & call
Demo, Lead generation, Sale & Call
Lead generation, Call, Sale & Demo
‘Customization’ means
Tailor-made products for each customer
Customers selling goods
Tailor-made products for each staff
A selling process
Cross-selling means
Selling with a cross face
Cross state marketing
Selling to relatives
Selling other products to existing customers
Marketing segmentation is useful for
Targeting existing clients
Identifying prospects
Knowing customers’ tastes
All of these
Marketing is the art of
Buying more
Paying more
Selling more
Talking more
Marketing is a
One day effort
Team effort
One man effort
All the above
Service marketing is the same as
Transaction marketing
Relationship marketing
Internal marketing
Outdoor marketing
Good marketing requires one of the following
Proper planning
Good team work
Good communication skills
Knowledge of products
Good selling skills involve
Patience
Presence
Knowledge
All of these
Modern styles of marketing are
Digital Marketing
Telemarketing
E-mails
All of these
Which among the following is an example of tele-conferencing?
Computer conferencing
Audio conferencing
Video conferencing
All of the above
In online marketing, there is
No exchange
Exchange is the core of marketing
Guarantee
Only warranty
Digital Marketing is the same as
Online marketing
Road shows
Door-to-door marketing
Website designing
A Presentation means
A Gift
Explaining the utility of products
Display of communication skills
All of these
What decision is taken under Planning?
What to do?
When to do?
How to do?
All of the above
Service marketing is the same as
Transaction marketing
Relationship marketing
Internal marketing
Outdoor marketing
Good marketing requires one of the following
Proper planning
Good team work
Good communication skills
Knowledge of products
Good selling skills involve
Patience
Presence
Knowledge
All of these
Modern styles of marketing are
Digital Marketing
Telemarketing
E-mails
All of these
Which among the following is an example of tele-conferencing?
Computer conferencing
Audio conferencing
Video conferencing
All of the above
Digital Marketing is the same as
Online marketing
Road shows
Door-to-door marketing
Website designing
What decision is taken under Planning?
What to do?
When to do?
How to do?
All of the above
What is competitive advantage?
Not having a clear business plan
Having the same strategies as its competitors
Being less efficient than its competitors
Attributes or strategies that allow a company to outperform its competitors
Name one way an organisation can create a competitive advantage.
Copying competitors
Innovation
Lowering prices
Ignoring customer feedback
How can innovation contribute to competitive advantage?
By reducing the quality of products and services that set a company apart from its competitors.
By creating unique products, services, or processes that set a company apart from its competitors.
Increasing the prices of products and services sets a company apart from its competitors.
By copying the strategies of other companies
What role does new technology play in creating competitive advantage?
New technology can help businesses improve efficiency, reduce costs, and differentiate their products or services from competitors.
New technology has no impact on competitive advantage
New technology always leads to increased costs and reduced efficiency their products or services from competitors
New technology only benefits large corporations, not small businesses their products or services from competitors
What are some examples of activities that can contribute to competitive advantage?
Innovative product development, efficient supply chain management, superior customer service
Copying competitors' products, slow supply chain management, mediocre customer service
Lack of innovation, disorganized supply chain management, average customer service
Outdated product development, inefficient supply chain management, poor customer service
How can trade considerations contribute to competitive advantage?
By accessing new markets, gaining cost advantages, and benefiting from economies of scale.
By refusing to adapt to changes in the global economy
By ignoring market trends and consumer preferences
By limiting the reach of the business to only one market
Why is it important for organisations to outperform their competitors?
To make the competitors feel bad
To attract more customers, increase market share, and achieve higher profits.
To avoid making any profit
To have a friendly competition
What are the benefits of having a competitive advantage?
No impact on market share, profits, or customer loyalty
Stagnant market share, same profits, and indifferent customer loyalty
Decreased market share, lower profits, and worse customer loyalty
Increased market share, higher profits, and better customer loyalty
How can all functions within an organisation contribute to competitive advantage?
By coordinating their actions with the overarching plan, emphasizing innovation and ongoing development, and providing customers with greater value.
By delivering average value to customers
By resisting change and avoiding innovation
By ignoring the overall strategy and focusing on individual goals
In what ways can an organisation use competitive advantage to stay ahead in the market?
By having inefficient operations and ineffective marketing strategies
By having a weak brand image
By offering unique products or services, having a strong brand image, efficient operations, and effective marketing strategies.
By offering outdated products or services
A competitive advantage is the leverage a business have over its competitors.
True
False
A business can create a competitive advantage by
Decreasing the price
Only selling the product online
Improve the quality of the product or service
Targeting the same market as its competitor
A Business can create a competitive advantage by:
Differentiating the product or service
Offering a high cost product
Decreasing productivity
All of the above
A focus on developing only certain skills or producing only certain goods/services
Imports
Specialisation
Exports
Globalisation
A product or service that an organisation's customers place a greater value on than similar offering from a competitor is the definition of:
Competitive disadvantage
First mover advantage
Second mover advantage
Competitive strategy
Competitive advantage
1. A business can create a competitive advantage by
Decreasing the price
Only selling the product online
Improving the quality of the product or service
Targeting the same market as its competitor
Choose the correct definition of cost control
the practice of identifying and reducing business expenses to increase profits, and it starts with the budgeting process.
the practice of finding the cost and profit for a business while maintaining a certain budget
controlling a cost to maintain an expenses for a business to prosper
to control the output and input of a business
What is the definition of Fixed Cost in cost control?
Are cost that when the business is expanding or reducing
Are cost that do not change significantly when the number of sales increases or decreases
Are cost that changes significantly when the number of sales increases or decreases
Are cost that when the number of sales increases or decreases
will affect the business
What is Variable Cost in cost control?
As the business volume increases, variable costs will increase, and if the business volume decrease then the variable cost decrease as well.
Is a cost that remains the same even when the company is expanding
As the business volume increases, variable costs will decrease, and if the business volume decrease then the variable cost increase as well.
Variable cost is the cost that covers the expenses of a business and reduce the level of profit
Which of the is the correct examples of Fixed Cost?
Working hours, staff employments and managers fee
Ingredients cost, maintenance fee and company cost.
Equipment price, food price and beverage price.
Insurance premiums, real estate taxes and depreciation of equipment.
Which of these are the examples of Variable Cost?
Exhibition cost, premise cost and public cost.
Brands cost, cost of premises and taxes.
Taxes rates, cars and equipment.
Food, beverages, and labour.
Price discrimination is
always illegal.
a type of peak-load pricing.
not regulated in the United States.
the practice of charging different prices to different customers for the same product or service.
Three possible responses to low cost competitors are, except:
further differentiate the products and services
introduce a low-cost venture
higher the standards
reinvent a low cost player
What are intellectual property rights?
patent, trademark, copyright, trademark, trade secret
patent, trademark, copyright, industrial design,geographical indication
patent, trademark, corporate, trade secret
patent, trades, copyright, trade secret
Choose the correct definition of Copyright :
To copy the information the right way.
Copyright is a protection given to authors, copyright owner and performer of their copyright work and performances as prescribe under the Copyright Act 1987.
Permit the owner to “include” others from making, using, selling, offering for sale, and importing a product or service embodying the invention.
Choose the correct definition of trademarks :
A trade mark is a sign which distinguishes the goods and services of one trader from those of another. A mark includes words, logos, pictures, names, letters, numbers or a combination of these.
The ornamentation or shape of a functional object, such as a chair
The right to prevent others from copying or modifying certain works
A monopoly to make, use, or sell an invention
If a company develops a new technology that improves its main product, what type of intellectual property can they use to stop others from copying their invention?
copyright
geographical indications
patents
trademarks
Each of the following is a form of intellectual property EXCEPT
a patent on a business process
a website design
the recipe for apple pie that has been passed down through your family for several generations
the name of the website "Google"
Which of the following is NOT a basic requirement for a patent?
It must be extraordinarily creative
It must have utility
It must be novel
It must be not obvious to a person of ordinary skill in the field
